Many organisations need to provide pay-for-services but want to avoid the hassle and expense of counting, securing and banking cash which can typically cost between 4 and 12% to handle (BIFM). The applications are ever expanding and include canteens, vending, car parking, gyms, and crèches. So what are the options?
Open Card systems:
These use bank issued credit and debit cards to take payments just like in a shop but the associated charges can be crippling on small value purchases and have obvious limitations when it comes to facilities like schools.
Closed Card Systems:
Users load their cards with credit / or have an account that is paid via their salary. Once installed these are economical to run and usually pay for themselves quickly. New systems combine elements of closed and open card systems to connect to online banking networks.
Phones & Apps:
Widely seen as the future of contactless payments in the work place because of the added functionality for both customers and merchants.
This is gaining ground considerably where secure control of premises or networks is paramount. A finger, voice or eye is difficult to lose, share or forget. It’s widely used in North American schools, allowing parents to see what their child is consuming while also limiting the impact of potential bullying and misuse of dinner money.